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Mortgage Market Update
My Mortgage Company
Justin Connolly
Tuesday, November 3, 2026
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Fixed or adjustable—what's the difference? |
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I get asked this question regularly, and the answer matters more than you might think. Here's what you need to know about your rate options.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Loan Programs
Fixed vs. adjustable: which fits your plan?
When you're shopping for a mortgage or thinking about refinancing, one of the biggest choices is whether to lock in a fixed rate or consider an adjustable one. A fixed rate stays the same for the life of your loan—predictable, stable, peace of mind. An adjustable rate may start lower, but it can move over time, which means your payment could change. The right choice depends on how long you plan to stay in your home, how comfortable you are with payment uncertainty, and what the current rate environment looks like. There's no universal "best" answer, but there's definitely a best answer for your situation. I'd like to walk you through what each option really means for your budget and your future. Let's talk through which loan type makes sense for your timeline and comfort level.
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Tip of the Week
Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.
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2.
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The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.
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3.
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There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Justin Connolly
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